Ann: Sky Investor Update, page-5

mistaTea, I hope you're right.

I'm thinking differently and I hope I'm wrong. I think Sky might be the acquiring entity. I say this because they're putting all returns to shareholders on ice. There's a reason they are accumulating capital. If they were to be acquired, the cash they hold is valued at face value only. There's little benefit (except capital gains tax reduction provisions for some shareholders) in holding the cash on the balance sheet for an acquiring company (they essentially buy 'cash' for cash). They could return funds to shareholders now & then sell the business (less value of payouts) as opposed to selling with a load of cash on the balance sheet. It doesn't make sense to me to withhold returns to shareholders.....unless they need that capital for a purchase/merger.....and that's my fear. Of course, I know nothing so am in no position at this stage for any judgement call on any proposed transaction until it's tabled. But prior experience (RugbyPass and that of ISU above very recently) leaves me apprehensive. We'll find out in August I guess.